There are many different credit cards available - through banks,
stores, dedicated credit card companies and other organisations.
Since it is a competitive business, many companies will offer
benefits for transferring to their card - a balance transfer.
Typically this will take the form of a period for which interest is
not charged on the balance transferred.

Balance Transfer
deals may be accompanied by conditions - you may be tied to the new
card for a period of time and you may be charged higher rates of
interest for any new purchases. You should look at the small
print - the benefits may not be as much as they seem once you take
your particular circumstances and lifestyle into account.

Online ads and
links as included on this page are useful to compare credit card
balance transfer rates and terms - check a few - before applying online.

Sensible use of a
credit card balance transfer would include using the transfer to
obtain 0% interest whilst you pay off a balance over a longer
period.

If not used
carefully, credit card balance transfers provide a dangerously easy means of building
up debts at relatively high interest rates. Do not think of a
balance transfer as a means of increasing your income or gaining a
higher credit limit: it may appear to
do this in the short term, but if you continue to use it to spend
more than you earn, your debts will snowball and the cost of
servicing your debts will reduce rather than increase your spending
power. If your do find yourself in difficulties, debt
consolidation may provide a
lifeline - but only if accompanied by lifestyle changes.